Corvinus
Corvinus

The importance of institutional trust for financial service providers among young adults and their parents in an emerging market

Zsótér, Boglárka and Bauer, András (2019) The importance of institutional trust for financial service providers among young adults and their parents in an emerging market. Society and Economy, 41 (2). pp. 211-225. DOI https://doi.org/10.1556/204.2019.005

[img]
Preview
PDF - Requires a PDF viewer such as GSview, Xpdf or Adobe Acrobat Reader
226kB

Official URL: https://doi.org/10.1556/204.2019.005


Abstract

Trust in financial institutions can be seen as a foundation for loyalty and profits in the banking industry and is relevant for the macro economy as well. Young customers are more likely to lack trust due to their lack of personal experience in finance, although parental advice may lower their risk. In this paper the authors combine trust measures with intergenerational communication theory and test it on a large dyadic sample using Z-scores. The results show a strong, holistic intergenerational effect on institutional trust, but shed light on heterogeneity in the sample due to gender, financial independence and different communication styles.

Item Type:Article
Uncontrolled Keywords:institutional trust, financial service providers, young adults, financial socialization, intergenerational effects
JEL classification:D14 - Household Saving; Personal Finance
O16 - Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
Subjects:Finance
Service management
Projects:KÖFOP-2.1.2-VEKOP-15-2016-00001
DOI:https://doi.org/10.1556/204.2019.005
ID Code:4121
Deposited By: Ádám Hoffmann
Deposited On:18 Jun 2019 13:13
Last Modified:18 Jun 2019 15:41

Repository Staff Only: item control page